India needs more stimulus measures: Ahluwalia
April 7th, 2009 - 10:27 pm ICT by IANSNew Delhi, April 7 (IANS) India should have more fiscal stimulus measures to help the economy weather the global slowdown, Planning Commission Deputy Chairperson Montek Singh Ahluwalia said here Tuesday.
“We should have more fiscal stimulus measures. In the recent G-20 summit in London, the world leaders generally felt that fiscal stimulus was needed in 2009-10,” Ahluwalia said after releasing a book, titled “India and the Global Crisis”, written by Shankar Acharya.
Acharya was the former chief economic adviser to the central government and is now an honorary professor and board member at the Indian Council for Research on International Economic Relations (Icrier).
Saying the government would keep a close vigil on the financial scene, Ahluwalia said: “India will not have bounced payments in 2009-10 and there’s no question of inflation shooting up again.”
Speaking of the infrastructure sector, he said the next government would take the necessary steps to help the segment, but expressed expressed concern over the declining private investment.
“The first half of 2009-10 will see shrinkage of demand and private investment too will go down,” Ahluwalia said.
Acharya, while speaking at the ceremony, said the financial crisis had decelerated India’s growth rate.
“There will be a limited room for the use of monetary policy this fiscal and India is likely to grow at 4-6 percent,” he said.
- Indian economy to grow by 6.9 percent this fiscal (Lead) - Feb 07, 2012
- Reforms implementation key to turnaround growth: Montek - Dec 12, 2011
- India targets double digit growth in 2012 - Jun 22, 2010
- Economic growth may slump to 6.9 percent this fiscal (Roundup) - Feb 07, 2012
- Europe, US crisis to hit India's export: Survey - Mar 15, 2012
- GDP growth will surpass 8.75 percent target: Mukherjee - Sep 23, 2010
- Indo-US business leaders can strengthen ties: Pranab Mukherjee - Jun 22, 2010
- India may slow down to 8.4 percent in 2011: World Bank - Jan 13, 2011
- As factory output shrinks, India Inc. demands lower interest rates (Roundup) - Dec 12, 2011
- Buoyant Indian IT industry rebounds but remains cautious (2010 in Retrospect) - Dec 30, 2010
- No need for extra stimulus to boost growth: Montek - Dec 02, 2011
- Low fiscal deficit will boost private investment: Mukherjee - Mar 04, 2011
- Pranab hints at steps for fiscal consolidation - Mar 12, 2010
- Pranab lowers 2011-12 growth projection to 7.5 percent - Dec 02, 2011
- India can grow 8-9 percent for 20 years: Montek Ahluwalia - May 18, 2012
Tags: board member, central government, deputy chairperson, economic adviser, financial crisis, fiscal stimulus, global crisis, global slowdown, honorary professor, infrastructure sector, international economic relations, monetary policy, montek singh ahluwalia, necessary steps, planning commission, private investment, shrinkage, vigil, weather, world leaders